By: Mahmoud Gamal
Dubai – Mubasher: It is expected that UAE bourses will continue their upward performance on Tuesday, technical analysts have said.
The Dubai Financial Market’s (DFM) main index rose above 3,600 points to mark its highest level in 10 months, while the Abu Dhabi Securities Exchange’s (ADX) index advanced to 4,560 points.
Technical analyst, Mohamed Al Harby, said that Monday's trades witnessed the entrance of new investors especially foreigners, backed by mega shares such as Emaar Properties which rose to AED 7.44, Dubai Islamic Bank (DIB) and Etisalat which levelled up to AED 5.54 and AED 19.95, respectively.
On Monday, the DFM witnessed foreign purchases of AED 184.38 million, while the Arab purchases reached AED 107.79 million and gulf investors' buying amounted to AED 72.80 million.
The DFM closed yesterday at levels that are likely to boost its upward performance in Tuesday's session to 3,620 points, Ahmed Al Emadi, technical analyst, told Mubasher.
He added that the continued rise till the end of the week will nominate the DFMGI to break through 3,650-3,700 points.
The ADX main index also rose on Monday, , backed by the National Bank of Abu Dhabi (NBAD) and Union National Bank (UNB) which increased 1.2% each.
Translated by: Sara Ghali
